Thomas Glucksman, a head of APAC business development at cryptocurrency exchange Gatecoin said that bitcoin could hit 50k$ at the end of 2018. Likewise, Mick Sherman, co-founder and CEO of Hercules Tech said that cryptocurrencies will grow big this year.
Those statements are overwhelming, it may sounds bullish but somehow there has truth in it.
http://business.inquirer.net/246286/bitcoin-hit-50000-end-2018I don't doubt the fact that bitcoin will continue its general trajectory of going up for the next few decades, because of factors like increasing adoption and inflation of fiat currencies, while bitcoin's supply stays the same.
But it's definitely still bearish this year. Despite the pump that we saw late last week, it's simply not enough to reverse the bearish trend.
IMO, prices will most likely stay put or even continue to decrease throughout the year. The ceiling for price growth is quite low for the year. I think it's most likely around $12k, where the resistance was the strongest and at which level the bear market was kickstarted. I don't expect any all time highs to be broken, let alone bitcoin going to $50k. So take that article with a grain of salt, I guess.
But again, that's not saying bitcoin doesn't have a future in the long term. It definitely does, and it's a huge future.